[ExI] Bank of England

[Rafal Smigrodzki]

On Sat, Jun 20, 2009 at 1:45 PM, Stefano Vaj<stefano.vaj at gmail.com> wrote:
>
>> Say, we had a central bank whose
>> owner is rewarded according to long-term economic performance of the
>> economy.
>
> That is a funny idea, unless of course one means "long-term economic
> performance of the financial system of which the central bank is today
> an expression". Once again, I think that Money as Debt makes it much
> clearer than a lot of specialised textbooks...

### I mean a specific cut of the total value of the economy, i.e. all
the fungible material and immaterial assets. The amount of such assets
is the direct expression of performance of the economy, whether
related to the financial system or not.

And of course, we shouldn't have a central bank in the first place.

Rafal